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Your credit union offers a variety of loan types to fit the varied needs of the Ka`u community. Below is a description of all the loan types. After the loan descriptions there is a list of the credit union's present interest rates. Our motto is: "How low can interest rates go at the Southernmost Credit Union in the USA?" Please contact the credit union for more information. Applications can be mailed to members. Personal Lines of Credit: These loans can be on a signature basis, partially secured or share secured. Interest rates vary and are tied to either the credit union's dividend rate or the 90-day treasury bill rate. Contact the credit union for more detailed information. Home Equity Lines of Credit: Loans secured by either a first or second mortgage on improved property. That’s property with a livable and permitted residence. There is a five-year advance period and the balance is repayable over 15 years from the month of the last advance. This is the perfect loan for those who want to make home improvements at their own pace, make investments or make major purchases (like a car); and have the interest be tax deductible. The interest rate varies twice per year and is tied to the 26-week treasury bill rate. Long Term First Mortgage
Loans: The credit union operates
through a third party to provide some of the best
mortgage interest rates available in the country.
If you are buying a new home, want to refinance
your existing mortgage or get cash out of the
equity of your home, this may be a loan program
for you. Student Loans for College Education: Student Loans-USA Group is the third party vendor we use for Stafford, other government guaranteed student loans and other long term financing for post secondary education. Click here to go to their website. Applications are available at all credit union offices. Business Loans: A variety of loan services are available to small businesses. Micro-Enterprises Loans, SBA guaranteed loans and guaranteed by the Farm Service Agency may be structured to meet the business' needs. As loan arrangements the prospective borrower needs to make an appointment with the Ka`u FCU manager. Call 929-7334 to make that appointment. You can also E-Mail the manager at by clicking on the underlined address manager@kaufcu.org . Share Secured Loans: Loans with the principal balance secured 100 percent by cash held on deposit at the credit union. Interest rates on these loans are some of the lowest. Partially Secured Loans: Loans with the principal balance secured 50percent by cash held on deposit at the credit union. Interest rates on these loans are lower than signature loans. Personal Signature Loans: Loans granted based solely on the credit worthiness and repayment capability of the applicant.New Vehicle Loans: Loans to assist members with the purchase of new vehicles. The credit union finances up to 100 percent of the opening purchase price. Used Vehicle Loans: Loans to assist members with the purchase of used vehicles. Used vehicles are also used by some members to secure loans for other purposes. A variety of interest rates are available based on the vehicle's age and the term of the loan. Gap Insurance: Now available to cover the member in the event of a full loss because of an accident or theft on vehicle loans. This insurance pays off the loan balance, for the member after the insurance has paid its share. The credit union will give favorable rates and allow financing of the entire purchase price a already low interest rates. Contact the credit union for details. Call 929-7334 or send an e-mail to Ka`u Federal Credit Union Loans Certain terms and conditions may apply to any loan type. Your credit union representative can assist you to understand the requirements of any loan product. Other loan types, interest rates and terms are available at the credit union’s standard rates. Please call or e-mail the credit union for more information. |